In 2026, significant financial changes are on the horizon, and key dates have been compiled for your convenience. These changes range from alterations to inheritance tax to the removal of the two-child benefit cap. Some adjustments were previously outlined in the Budget, while others have been in progress for some time.
Regular updates include modifications to the Ofgem price cap and important deadlines for self-employed individuals regarding their tax obligations.
Beginning in January, the Ofgem energy price cap will increase from £1,755 annually to £1,758, affecting those with typical energy consumption paying via direct debit. This cap undergoes adjustments every three months, with upcoming changes scheduled for April, July, and October.
On January 21, the Office for National Statistics will release the first inflation update for the year. Inflation, currently at 3.6% based on the Consumer Prices Index (CPI), tracks price fluctuations over time.
For individuals eligible for Winter Fuel Payment, contact the Winter Fuel Payment Centre starting January 28 to claim up to £300. The deadline to file online self-assessment tax returns for the 2024/25 tax year is January 31, with penalties for late submissions.
From February, alcohol duty will rise by 3.66%, aligned with RPI inflation. Similarly, the first Bank of England meeting of the year, determining interest rates, is set for February 5.
The Household Support Fund concludes on March 31, providing aid to residents struggling with bills. Notable changes in April include the removal of the two-child benefit cap and increases in minimum wage rates.
Council tax bills will rise in April, with a maximum 5% increase permitted without a referendum. Additionally, the TV licence fee may see an annual rise, and water bills are expected to surge in April.
Car tax rates typically increase in April, and the end of the tax year falls on April 5, resetting tax allowances. The coming year also brings adjustments to benefits, inheritance tax, and dividend tax rates.
New regulations for buy now, pay later schemes will be enforced by the FCA from July 15, and tuition fees in England will rise with inflation. Fuel duty will gradually return to normal levels from September 2026, and free school meal eligibility will expand in September.
From October, a duty will be imposed on vaping products, and registration for self-assessment tax must be completed by October 5. Filing a paper tax return deadline is October 31, with fines for late submissions.
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